Equities research analysts forecast that Toro Co (NYSE:TTC) will announce $0.74 earnings per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Toro’s earnings. The lowest EPS estimate is $0.73 and the highest is $0.75. Toro reported earnings of $0.68 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 8.8%. The company is expected to report its next quarterly earnings report on Thursday, August 22nd.
According to Zacks, analysts expect that Toro will report full year earnings of $2.93 per share for the current financial year, with EPS estimates ranging from $2.92 to $2.95. For the next year, analysts expect that the firm will report earnings of $3.33 per share, with EPS estimates ranging from $3.24 to $3.39. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Toro.
Toro (NYSE:TTC) last issued its quarterly earnings data on Thursday, May 23rd. The company reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.04). The company had revenue of $962.00 million for the quarter, compared to analysts’ expectations of $987.80 million. Toro had a return on equity of 40.99% and a net margin of 10.62%. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period last year, the company posted $1.20 EPS.
Shares of TTC opened at $72.35 on Tuesday. The business’s 50-day moving average is $67.55. The stock has a market cap of $7.70 billion, a PE ratio of 27.00 and a beta of 0.81. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.51 and a quick ratio of 0.78. Toro has a 52-week low of $52.97 and a 52-week high of $75.13.
The firm also recently announced a quarterly dividend, which was paid on Thursday, July 11th. Shareholders of record on Tuesday, June 25th were paid a $0.225 dividend. The ex-dividend date of this dividend was Monday, June 24th. This represents a $0.90 dividend on an annualized basis and a yield of 1.24%. Toro’s dividend payout ratio is currently 33.71%.
In other Toro news, VP Amy E. Dahl sold 2,900 shares of the company’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $68.87, for a total value of $199,723.00. Following the transaction, the vice president now directly owns 14,779 shares in the company, valued at approximately $1,017,829.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.36% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. increased its stake in Toro by 2.0% in the 1st quarter. BlackRock Inc. now owns 9,758,946 shares of the company’s stock worth $671,805,000 after acquiring an additional 188,281 shares during the last quarter. Neuberger Berman Group LLC increased its stake in Toro by 3.9% in the 1st quarter. Neuberger Berman Group LLC now owns 2,857,566 shares of the company’s stock worth $196,715,000 after acquiring an additional 106,340 shares during the last quarter. Impax Asset Management Group plc increased its stake in Toro by 3.0% in the 4th quarter. Impax Asset Management Group plc now owns 1,358,860 shares of the company’s stock worth $75,933,000 after acquiring an additional 40,000 shares during the last quarter. Nordea Investment Management AB increased its position in shares of Toro by 10.2% during the 1st quarter. Nordea Investment Management AB now owns 1,155,745 shares of the company’s stock valued at $79,561,000 after purchasing an additional 107,128 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Toro by 9.6% during the 4th quarter. Geode Capital Management LLC now owns 1,076,076 shares of the company’s stock valued at $60,131,000 after purchasing an additional 94,376 shares during the last quarter. Institutional investors and hedge funds own 81.63% of the company’s stock.
The Toro Company designs, manufactures, and markets professional and residential equipment worldwide. The company's Professional segment offers turf and landscape equipment products, including sports fields and grounds maintenance equipment, golf course mowing and maintenance equipment, landscape contractor mowing equipment, landscape creation and renovation equipment, rental and specialty construction equipment, and other maintenance equipment; and snow and ice management equipment, such as snowplows, salt and sand spreaders, and related parts and accessories for light and medium duty trucks, utility task vehicles, skid steers, and front-end loaders.
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